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of storm that is spread out, you have to understand that the energy of the storm is spread out through a larger area. new england sticks east. you are funneling everything into one area. the same thing happened in ike. it is a category two and i said no, bill, this will be a major hurricane for southeast texas. i knew the storm would tighten coming to land. same kind of thing is happening here. dennis: more from you later, joe. the new york stock exchange planning to operate only through electronic trading today, but then everything changed. as we have been reporting, it has been completely shut down. spew forth the first time it has happened in a very long time. charlie: why the 180 quick suck when i spoke to you yesterday, you were very confident that you could do that. >> i think it was really just gathering more information from all the marketing participants. we realized that staying open, even electronically would put others at risk. we decided to work with the industry and elected to change the decision where the markets will close entirely. i think the banks have really express
into the depths of this room traders are here trading today but these energy markets are electronic trading only with nymex trading floor in new york closed for the day and if you look at crude oil, they are moving in the opposite direction of each other and the opposite direction they were trading yesterday in lieu of the refinery closures for the storm. gasoline down 1/2%, crude oil prices getting a boost near $86 a barrel. we are still trying to digest the actual effect of this storm on the refinery's. we haven't gotten a lot of word from companies that have been affected but the energy department has released this beta saying gasoline stockpiles may sink to the lowest levels since 1990 as a result of sandy. inventories down 16% from a year ago. weekly inventory reports delayed till thursday so bottom line a lot of traders say when markets reopen a lot of the focus is going to look at the supply side of the equation when it comes to the energy markets and stocks like philip and newstar, companies that shed down refineries along the east coast. those are stocks that will be on everybody's rada
, meet markets, energy products are trading as well. oil, heating oil, also products are trading. gold, silver and copper. then of traders audio joining me now. what do you make of all of this? >> it is an extremely unusual day down here today. it is a unique event. we have certain quadrants which are closed. very little energy across the board. you are seeing it in the crude and local market. there is a limited participation. some people tend to look for a day like this for opportunity, i look at this as a favorite risk day. this gives you an unexpected opportunity to review the markets. sandra: dyke the s&p up 15% this year. the unemployment number will come out friday. >> that is definitely what traders are looking for right now. sandra: by the way, we will continue to update viewers, melissa and ashley, whether or not markets will be open here tomorrow. the treasury orchids to be closed tomorrow, there was a recommendation for that. we will be updating you live on the trading floor all day . ashley: we will get more details later. all markets are closed today. it looks like the maj
barrel. we will be right back. energy is being produced to power our lives. while energy development comes with some risk, north america's natural gas producers are committed to safely and responsibly providing generations of cleaner-burning energy for our country, drilling thousands of feet below fresh water sources within self-contained well systems. and, using state-of-the-art monitoring technologies, rigorous practices hp ensure our operations are safe and clean for our communities and the environment. we're america's natural gas. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. get the mercedes-benz on your wish list at the winter event going onow -- but hurry, the offer ends soon. dagen: we have a triple digit rally on our hands. we are getting to that time every hour because every 15 minutes it is stocks now. we are close enough, nicole petallides. nicole: i ain't going, no, no. you have ford down 1.5%. we have gotten a lot of news on ford, as well. they did name the chief operating officer. they said it is too early to predict the impact of sandy on the n
: officials in the energy business and the government trying to assess all the damage done by hurricane sandy on refineries. the entire infrastructure that deliver oil and gas to businesses and individuals. joining us with his take is john hofmeister, former president of shell oil. do you have any sense how quickly these refineries will restart with 70% of refining capacity in this part of the country shutdown? >> ended the best of circumstances once you shutdown it takes between five and ten days to get up and running. unless you find damage. if you have been flooded chances are you could have similar optical damage if your electricals were on the ground level so we don't know yet. i keep reading everything i can read to see what is being reported that something else to worry about our, our the porks damage? the northeast gets a lot of its fuel supplies from europe or the caribbean by ship and so if the ports are damaged with that huge surge, that could be another issue in terms of supply. normally there's a three to four week supply available and there shouldn't be an immediate outage of ge
some names with of arrows. let's also take a look at some other names. energy, we still see people fighting for gasoline and food and power. people are still coming in here whatever happened to them. we have had a monumental week here on wall street. a few more hours to go. back to you. ashley: thank you very much. tracy: residence in satin island crying foul as mayor bloomberg refuses to cancel the new york marathon. it makes me sick. adam shapiro has the latest on the recovery efforts. sandra: adam: most people not happy about the marathon. you can see them getting ready for that new york sanitation trucks to calm down hunter avenue and pick up all the debris. the trucks are over at orchard beach right now. the dump trucks we have seen so far have been picking up trees and different kind of wildlife that has been knocked over. they want to clear all of that out for the utility crews. i want to introduce you to the woman that used to own all of these possessions that came out of the house that was damaged by the water. she actually works for the city. right now you are working to
these things on the floor. you specifically are watching the energy market. big mover to the upside. >> crude oil should have remained under pressure. if you close refineries on the eastern seaboard in theory the front months of crude should be under some pressure. we saw the front months of crude gained ground on the back. that is counterintuitive and i will respect this action and wants to be long, not short. sandra: why are prices going up when they should be going down? >> i am not that wide. guana look at markets like this, watch it absolutely be happening? unleaded gas should be going up. crude should be going down and it isn't. i am looking for market action to take me off. sandra: at talked to you before the markets opened its entire 8 this week. now that they have, your thoughts on the reopening of the exchanges across the united states? >> this place gives me the creeps when the only thing trading is hot and cattle. it is good to have some oil is back around me and things going on. i am happy we are back to business as usual. sandra: quarterly? >> very orderly. sandra: tres knippa o
in another. if it imposes a penalty would be federal energy regulatory commission's largest fine of. >>> the price tag on damage by superstorm sandy could reach as much as $50 billion according to new estimates by eqecat. the widespread outages of electricity and subway service could push the estimates higher. >>> as it wrists down the value of past investments ahead of another restructuring. that is the latest from the fox business network. giving you the power to prosper. melissa:. lori: the obama administration says it is still investigating the attacks in at the consulate in benghazi but with days before the election the american people are unhappy with the job done there. according to latest "fox news poll", 39% approve the job obama is doing on libya and 47% voters disapprove. lou dobbs is here. you've been a outspoken critic on the handling of the benghazi situation so what does the poll reflect? >> the poll reflects the sentiment, without knowing the details, understand that this administration has stonewalled, refused to be forthcoming not details but even broad brush strok
out. >> one quick update. the energy department has updated people on gasoline stockpiles. it may be at the lowest level since 1990. gas supplies are down 15% from year ago levels. one other major update for energy watchers is the weekly report that comes out tomorrow morning. they have said that it will be delayed and most likely, that report will be coming out on thursday and that is still dependent on the damage assessed from the storm. dagen: thank you, sandra. she is at the cme today. you take everything away from that interview. thank you. connell: there were gas stations throughout the new york metro area, connecticut, new york state or out of gasoline. >> all the lines. >> you have people popping up and their gasoline has to be there for generators. there you go. it draws on supplies. in the meantime, talking about the fight. one week until the election. two presidential candidates. canceling campaign appearances because of hurricane sandy. [cheers] sony comes out next >> hurricane sandy leaving a path of unprecedented destruction up and down the the east coast. stock mar
jones industrials. monster, the energy drink, they continue to claim that their drinks are safe. back to you. dagen: thank you. connell: hurricane sandy sweeping through staten island. dagen: adam shapiro is standing by with the very latest on the recovery efforts. >> you see this car right here, just one of many that got tossed around by the floodwaters. i want to show you some of the houses. they have inspected 650 structures like this one. you can see this one still has a restricted use sticker. it eventually can be used again. i want you to come back with me, if you can. you will see these two guys over here. this is national red. they are walking neighborhood to neighborhood shouting the gas off. did you come down to this house right here, this sums up what is happening to a lot of people. it says unsafe area: do not enter or occupied. this house will have to be torn down. two of the victims of this tragedy, two elderly people died. i can report to you right now, the new york city sanitation has set dump trucks and tractors that are at the end of this street picking up debris. t
Search Results 0 to 9 of about 10